TIPH | Elliott Wave - Wave 4 Uptrend Target or A Bull Trap? Price action and chart pattern trading - A possible bull trap false breakout SMA200D
> The price strong breakout last week could be forming an inverse head & shoulders pattern for a possible 4-wave correction uptrend
> Wait for a pullback to complete the right shoulder consolidation pattern.
> Entry : breakout - right shoulder after pullback consolidation
> Target: Upper resistance +10-15% (0.382 - 0.5 Fibonacci retracement zone)
> Stop: right shoulder support - 4%
> Risk Reward Ratio: 2:1
Always trade with affordable risk and respect your stoploss
Good Luck
TIPH trade ideas
TIPH and AB=CD Trade SetupTIPH and AB=CD Trade Setup. According to this pattern, if it breaks out the previous high or at least the end of b of wave iv, it possibly to test the Fibo. P. 100% as the same level of Fibo Ext. 61.8%. The price breaking TDST L. is another supporting signal to decide to buy TIPH. at the limited risks. Take this opportunity and control your risks well.